Commercial Real Estate Market in West Palm Beach, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
586 active listings and 5,222 off-market properties in West Palm Beach, FL. Commercial property asks $375/SF to buy and $49.75/SF/Yr to lease.
Market Trends
West Palm Beach, FL spans 252.7 square miles in Palm Beach County, Florida. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in West Palm Beach, FL asks $607/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail space in West Palm Beach, FL asks $369/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in West Palm Beach, FL runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in West Palm Beach, FL asks $329/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Market overview
Demographics & Economy
West Palm Beach, FL has 542,682 residents in 248,504 households. Density runs 2,148 people per square mile. Median household income here is $81,811 and median gross rent $1,839 a month.
542,682
Population
248,504
Households
2.2
Avg Household Size
42
Median Age
36%
College-Educated
88%
High-School Grad
252.7 sq mi
ZIP Area
2,148
Density / Sq Mi
$81,811
Median Household Income
$44,046
Median Earnings
$1,839
Median Rent
$391,058
Median Home Value
Tools
Lease vs Buy Breakeven
At $49.75/SF/Yr lease vs $375/SF buy → buying wins if held > 0.9 years.
At a 13.3% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Greenacres | — | — |
| Palm Springs | — | — |
| Lake Worth | — | $35.04 |
Commercial property in West Palm Beach, FL asks $375/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in West Palm Beach?
Commercial property in West Palm Beach, FL asks an average of $375 per square foot. The 6 most recent recorded sales traded at a median of $631/SF. Office carries the highest asking price at $607/SF.
How much does it cost to lease commercial space in West Palm Beach?
Asking lease rates in West Palm Beach, FL average $49.75 per square foot per year.
Is it cheaper to lease or buy commercial space in West Palm Beach?
Buying beats leasing in West Palm Beach, FL if the property is held longer than 0.9 years, comparing $49.75/SF/Yr asking rent with $375/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's West Palm Beach market data come from?
Realmo compiles West Palm Beach, FL figures from 6 recent recorded sales, 364 active sale listings, 222 active lease listings, 5,222 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 364 active for-sale and 222 active for-lease listings in West Palm Beach, FL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
